€STR (Euro Short-Term Rate) is the reference interest rate for the euro area money market. It is calculated and published by the European Central Bank (ECB) based on data from overnight unsecured lending transactions between banks in the euro area. €STR is used as a benchmark for various financial instruments, such as bonds, loans, and derivatives. The €STR was launched on October 2, 2019, replacing the Euro Overnight Index Average (EONIA) as the main benchmark for the euro money market.